iShares Large Cap Max Buffer Sep ETF
SMAX
38 hedge funds and large institutions have $84.8M invested in iShares Large Cap Max Buffer Sep ETF in 2025 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 12 increasing their positions, 17 reducing their positions, and 14 closing their positions.
2% less capital invested
Capital invested by funds: $86.2M → $84.8M (-$1.37M)
1.68% less ownership
Funds ownership: 67.32% → 65.64% (-1.7%)
17% less funds holding
Funds holding: 46 → 38 (-8)
29% less repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 17
50% less first-time investments, than exits
New positions opened: 7 | Existing positions closed: 14
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JLBC
J.L. Bainbridge & Co
Sarasota,
Florida
|
+$29.9M |
| 2 |
CFC
Client First Capital
San Diego,
California
|
+$4.73M |
| 3 |
SB
Strategic Blueprint
Atlanta,
Georgia
|
+$2.41M |
| 4 |
AWA
Authentikos Wealth Advisory
Morgan Hill,
California
|
+$2.16M |
| 5 |
HBS
Howard Bailey Securities
Fort Wayne,
Indiana
|
+$1.94M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AWM
AE Wealth Management
Topeka,
Kansas
|
-$21.2M |
| 2 |
BlackRock
New York
|
-$9.37M |
| 3 |
LAS
Lloyd Advisory Services
Suwanee,
Georgia
|
-$2.72M |
| 4 |
CAG
Csenge Advisory Group
Clearwater,
Florida
|
-$1.73M |
| 5 |
GLR
Great Lakes Retirement
Sandusky,
Ohio
|
-$1.67M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
RWPA
51
Richard W. Paul & Associates
Novi,
Michigan
| – | -$832 | -33 | Closed |
|
52
Fidelity Investments
Boston,
Massachusetts
| – | -$25 | -1 | Closed |
|
SMAX Hedge Fund Activity: Q1 2025 in Review
38 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in iShares Large Cap Max Buffer Sep ETF (SMAX) for Q1 2025, worth a combined $84.8M — down 1.6% from $86.2M a quarter earlier.
Sellers outnumbered buyers: 14 funds closed out of SMAX and 7 opened new positions — a net loss of 7 holders — while 17 trimmed existing stakes and 12 added.
The largest buyer was J.L. Bainbridge & Co, adding an estimated $29.9M. The largest seller was AE Wealth Management, cutting an estimated $21.2M.
- 38 institutional investors held iShares Large Cap Max Buffer Sep ETF (SMAX) as of Q1 2025, down from 46 in Q4 2024.
- Funds reported $84.8M of iShares Large Cap Max Buffer Sep ETF stock for Q1 2025, down 1.6% quarter-over-quarter.
- 7 funds opened new iShares Large Cap Max Buffer Sep ETF positions in Q1 2025 and 14 closed out, a net change of -7 holders.
- The largest iShares Large Cap Max Buffer Sep ETF buyer in Q1 2025 was J.L. Bainbridge & Co, an estimated $29.9M added.
- The largest iShares Large Cap Max Buffer Sep ETF seller in Q1 2025 was AE Wealth Management, an estimated $21.2M sold.
Based on aggregated 13F filings for Q1 2025.